THE HON’BLE SRI JUSTICE NARSING RAO NANDIKONDA C.C.C.A.No.35 of 2020

JUDGMENT:

This Appeal is filed by the appellant/defendant under Section 96 order 41 of C.P.C as against the Judgement and Decree, dated 04.07.2019 passed in OS No.1077 of 2015 on the file of the II Senior Civil Judge, City Civil Court at Hyderabad. The plaintiff/respondent herein, earlier filed a suit for recovery of a sum of Rs.8,80,000/- together with future interest and costs against the defendant i.e., petitioner herein basing on the promissory note, dated 01.08.2012.

2. For the sake of convenience, the parties will be hereinafter referred to as they are arrayed before the learned trial Court.

3. Brief facts of the case are that the plaintiff and the defendant are well acquainted with each other and on the request of the defendant, the plaintiff has lent an amount of Rs. 5,00,000/- for the purpose of financial necessities to the defendant. On 01.08.2012, the defendant borrowed an amount of Rs.5,00,000/- from the plaintiff, agreeing to pay the interest at the rate of 24% per annum and executed a promissory note to repay the same as and when demanded by the plaintiff. The defendant has also handed over the photocop